‘A’ team borrowing at pre-corona prices but bonds too dear for most EM corps
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‘A’ team borrowing at pre-corona prices but bonds too dear for most EM corps

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The top tier of emerging market companies and sovereigns are funding themselves at near pre-coronavirus levels, but there is stark inequality in the market. The vast majority of EM corporates will have to sit out a while longer as funding costs remain prohibitively high for triple- and double-B rated issuers, writes Oliver West.

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